Visakhapatnam could reach the level of development that Hyderabad achieved in 30 years within just 10 years, said Andhra Pradesh IT minister Nara Lokesh. He made the statement after laying the foundation stone for the state’s first AI-powered edge data centre and open cable landing station, to be developed by Sify Infinit Spaces Limited in Visakhapatnam.
Lokesh said the Greater Visakhapatnam Economic Region is expected to grow into a trillion-dollar economy by 2047. “Visakhapatnam is rapidly emerging as a global digital gateway on the eastern coast. Sify’s world-class infrastructure will strengthen Andhra Pradesh’s position on the global technology map and create new opportunities in innovation, employment, and investment. This marks a defining moment in the digital journey of the state,” he said.
He added that Andhra Pradesh has attracted 120 billion dollars (around Rs 10 lakh crore) in investments over the past 17 months, with more than half directed towards the Greater Visakhapatnam Economic Region. Major projects such as the ArcelorMittal-Nippon Steel plant and Google’s Raiden data centre are contributing to this growth. These developments are expected to generate two million jobs, including five lakh IT jobs in Visakhapatnam alone.
“Although every state should have a single capital, development must be decentralised. We are confident of making history in attracting investments. No investment should be lost due to political or administrative errors, and companies must not be driven away to other states for such reasons. We are working to establish Visakhapatnam as the global capability centre capital,” Lokesh said.
Sify chairman Raju Vegesna said, “We are proud to enable Visakhapatnam’s transformation into a key hub for global connectivity and digital infrastructure. This initiative is just the beginning of our long-term commitment to strengthening India’s digital economy and advancing AI-led innovation at scale.”
Lokesh further stated that earlier strategic decisions, such as allocating land to TCS at a nominal rate, had encouraged companies like Cognizant, Accenture, Sattva, and Google to set up operations in Visakhapatnam. He credited the double-engine government for accelerating Andhra Pradesh’s economic progress and rescuing the Visakhapatnam steel plant with combined support of Rs 14,000 crore from the Centre and the state.
The minister also announced the creation of the Greater Visakhapatnam Economic Zone, stretching from Srikakulam to Anakapalli, and revealed plans to host a Partnership Summit on November 14 and 15 to attract further investments.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter |The Mainstream formerly known as CIO News Whatsapp Channel | The Mainstream formerly known as CIO News Instagram
About us:
The Mainstream formerly known as CIO News is a premier platform dedicated to delivering latest news, updates, and insights from the tech industry. With its strong foundation of intellectual property and thought leadership, the platform is well-positioned to stay ahead of the curve and lead conversations about how technology shapes our world. From its early days as CIO News to its rebranding as The Mainstream on November 28, 2024, it has been expanding its global reach, targeting key markets in the Middle East & Africa, ASEAN, the USA, and the UK. The Mainstream is a vision to put technology at the center of every conversation, inspiring professionals and organizations to embrace the future of tech.
